New Zealand’s current account deficit surged to NZD 5,224 million in Q2 of 2022 from NZD 1,671 million in the same period of the previous year and compared with market expectations of an NZD 4,700 million shortfall. The deficit of services accounts jumped to NZD 2,012 million from NZD 649 million a year ago, while that of primary income widened to NZD 2,931 million from NZD 2,290 million. Also, the gap of secondary income increased to NZD 254 million from 187 million. Meantime, the goods account reversed to a small shortfall of NZD 27 million from a surplus of NZD 1,456 million as exports grew by 12.5% to NZD 19,446 million while imports gained 23.1% to NZD 19,43 million. source: Statistics New Zealand
Current Account in New Zealand averaged -1187.92 NZD Million from 1971 until 2022, reaching an all time high of 2325 NZD Million in the first quarter of 2020 and a record low of -8248 NZD Million in the third quarter of 2021. This page provides the latest reported value for - New Zealand Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. New Zealand Current Account - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.
Current Account in New Zealand is expected to be -2400.00 NZD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Current Account is projected to trend around -2400.00 NZD Million in 2023, according to our econometric models.